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The £50 note is changing and here's why

The £50 note is changing and here's why

Business
The £50 note will not be scrapped and will instead get a plastic redesign, the Bank of England has said.Fears that the largest denomination was widely used by criminals and rarely for ordinary purchases had prompted a proposal to abolish it.But ministers said the new version, to be printed in the UK, would be more durable, secure and harder to forge.Polymer £5 and £10 notes are already in circulation, while a £20 design will be issued in 2020.There are currently 330 million £50 notes in circulation, with a combined value of £16.5bn, the bank said.'Currency of corrupt elites'In March, a review by the Treasury said that they were "rarely used" for routine transactions."There is also a perception among some that £50 ...
More retirees are heading back to college in their golden years. Here's why

More retirees are heading back to college in their golden years. Here's why

Finance
When Barbara Lane and her husband relocated to the Berkshires from New York City, they didn't envision a traditional retirement. "Ed and I have never seen ourselves as they kind of people who will move down to the warm weather and play bridge and tennis for the rest of our lives," Lane said. "That was never going to work for us." Lane sought out local classes for older adults at Berkshire Community College. Her husband, Ed, separately pursued his master's in business administration. Today, Lane not only takes classes at the Osher ...
Booking vacation to Bermuda vs. a new kitchen: Here's how some people misuse their home equity loan

Booking vacation to Bermuda vs. a new kitchen: Here's how some people misuse their home equity loan

Finance
You shouldn't use your house to help pay your monthly bills, but nearly 1 in 6 American homeowners thinks that's just fine. Those were the findings from a recent survey by Bankrate.com. Earlier this month, the personal finance website took an online poll of 719 homeowners, asking them about using their home equity — the market value of your abode minus the outstanding loan you have on your dwelling. Though nearly 75 percent of participants said that improvements and repairs were "good uses" of home equity loans and lines of credit, many felt that they could tap value of their house for a range of other uses. ...
Here's the story behind that viral high-kicking taekwondo video

Here's the story behind that viral high-kicking taekwondo video

World
A video of an incredible taekwondo performance in South Korea has gone viral in recent days, with athletes flying through the air, smashing panels and twisting through mind-boggling new moves. The video — versions of which have racked up tens of millions of views — shows a South Korean team wowing a crowd with numerous large-scale kicks as the athletes are thrown into the air at the 2018 World Taekwondo Hanmadang Festival, which took place last month on South Korea's Jeju Island. What makes the July 28 opening-ceremony performance particularly exceptional is the fact that the group — the Kukkiwon Taekwondo Demonstration Team — showcased several previously unseen taekwondo techniques. “The moves in the performance do not just end with smashing boards in t...
Public sector banks are much easier to defraud than private sector ones: Here's the proof

Public sector banks are much easier to defraud than private sector ones: Here's the proof

Finance
Clearly, it is much easier to defraud public sector banks than private sector ones in India and the figures speak volumes about the way the latter are run. According to the Reserve Bank of India’s (RBI) annual report for 2017-18, during 2017-18, public sector banks accounted for almost all (92.9 per cent) of the amount involved in frauds. While the private sector banks accounted for 6 per cent. With regards to the cumulative amount involved in frauds till March 31, 2018, PSBs accounted for around 85 per cent, while the private sector banks accounted for a little over 10 per cent. Banking frauds in general are on the rise. According the central bank’s annual report, the number of cases on frauds reported by banks were generally hovering at around 4500 in the last 10 years before thei